story #63 "Tech trumping traditional media"
As the article states, overall sales of the national titles are falling at a rate of about 10 per cent a year while regional dailies are declining faster. Local papers, which initially bucked the downward trend, have also seen their sales tumble over the past decade.
Yet the digital audience for newspaper content has increased to levels that far exceed the numbers they enjoyed at newsprint’s circulation zenith in the 1960s.
Editors happily point to the millions of people who access their websites. By contrast, their owners and commercial managers sadly point to the financial reality: advertising revenue, the lifeblood of newspapers for more than 150 years, is taking flight. In the jargon of the newspaper trade, newsprint pounds have been replaced by digital pennies. Monetising content has proved more difficult than first appeared because advertisers and their media-buying agencies prefer to seek consumers through social media and, of course, the internet behemoth that is Google.
Their reasoning for the switch from traditional advertising outlets to online alternatives is understandable. In this increasingly connected world, it is easy to track and measure performance. The data is easily available and enables advertisers to target consumers more efficiently, and cheaply, than ever before. They can guarantee that their goods and services reach the right people. This facility is one of the major reasons for the recent prediction by PwC that the UK media and entertainment sector will grow at a rate of 3 per cent a year, making it worth £68.2 billion by 2020.
- ecent prediction by PwC that the UK media and entertainment sector will grow at a rate of 3 per cent a year, making it worth £68.2 billion by 2020.
No comments:
Post a Comment